9. A Filipino citizen has P400,000 Philippine income and P300,000 foreign income. He paid P55,000income taxes abroad. Compute the allowable tax credit for the income taxes paid abroad.с. Р 45, 000d. P 55, 000а. РОb. Р 40, 00010. In the preceding problem, what is the tax credit if the taxpayer was a non-resident citizen or a residentalien?с. Р 45, 000d. P 55, 000а. РОb. P 40, 000

9. A citizen of the Philippines is allowed a full tax credit of the foreign tax paid by the citizen…

9. A Filipino citizen has P400,000 Philippine income and P300,000 foreign income. He paid P55,000 income taxes abroad. Compute the allowable tax credit for the income taxes paid abroad. а. РО с. Р 45, 000 d. P 55, 000 b. Р 40, 000 10. In the preceding problem, what is the tax credit if the taxpayer was a non-resident citizen or a resident alien? а. РО b. P 40, 000 с. Р 45, 000 d. P 55, 000

9. A Filipino citizen has P400,000 Philippine income and P300,000 foreign income. He paid P55,000 income taxes abroad. Compute the allowable tax credit for the income taxes paid abroad. а. РО с. Р 45, 000 d. P 55, 000 b. Р 40, 000 10. In the preceding problem, what is the tax credit if the taxpayer was a non-resident citizen or a resident alien? а. РО b. P 40, 000 с. Р 45, 000 d. P 55, 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

9. A Filipino citizen has P400,000 Philippine income and P300,000 foreign income. He paid P55,000
income taxes abroad. Compute the allowable tax credit for the income taxes paid abroad.
с. Р 45, 000
d. P 55, 000
а. РО
b. Р 40, 000
10. In the preceding problem, what is the tax credit if the taxpayer was a non-resident citizen or a resident
alien?
с. Р 45, 000
d. P 55, 000
а. РО
b. P 40, 000

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